09-09-2013 12:57 PM
My fiance is looking for a new card. This card will be used 99.9% of the time on gas and groceries. What card would you suggest, or do you use for these purchases. Cash back or Rewards could both work.
score 690-710 range currently(should go up slightly by the time she apps)
Utilization will be less than 8% when she apps.
AAoA i believe 4 or 5 years.
Limited history, one car loan and one VS card.
(should she ask for CLI on VS card to help with Util. and hopefully show she can manage a higher CL when she apps)
Am I right that she should wait to Shopping cart trick with JCrew until AFTER she apps for a G/G card? I know the extra LOC might help, but this would greatly effect her AAoA.
09-09-2013 01:11 PM
AMEX BCE or BCP depending on how much used. American Express Blue Cash Preferred gives 6% cash back on Groceries and 3% Cash Back on Gas. It does have a $75 Annual Fee, but if you sign up through creditcards.com there's a $250 bonus if you spend $1,000 in first 3 months (if you app via Amex site it's $150).
BCE (Everyday) has no annual fee but pays out less in percentages. But I think if you spend more than $2,500 on groceries a year it pays for itself. And you can always buy gift cards at the grocery store to pay for other things you need. I will be buying a video game next week, and will buy Gamestop gift cards from the grocery store with my AMEX, 6% Cash back.
Looks like your fiance's scores are good enough, not sure how Amex would view the limited history.
09-09-2013 01:18 PM
I apped for AmEx with limited history and got the instant denial. I'm pretty sure they like to see another prime bank card under your name before they stick their neck out. I could be wrong. BCP would be such a nice card for her though.